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Cardmember Agreement
THE PARTIES TO THE AGREEMENT
The parties to the Agreement are Amex (Saudi Arabia) Limited and the Cardmember whose
name appears on the Card.
1. DEFINITIONS
"Account"
Any account we maintain in relation to the Card.
"Card"
Any Credit Card issued to operate the Account, which will be a Blue
Credit Card from American Express.
"Cash Withdrawals"
Any Cash Withdrawal made by using the Card, PIN or as authorized by
you.
"Credit Limit"
We will determine the total maximum debit balance that is allowed on
the Account, the amount of such balance.
"PIN"
The Personal Identification Number given to you to use in conjunction
with the Card.
"Cardmember"
The person in whose name a Card is issued and who is the debtor on
the Account.
"Additional
Cardmember"
A Cardmember other than you, the Account holder, in whose name a
Card is issued to charge Transactions, including Cash Withdrawals, to
the Account.
"Service
Establishments"
Retail and other outlets that accept the Card in payment for goods and
services.
"Replacement Card"
Card specially issued in case of loss, theft, mutilation and non-arrival.
"Transaction"
Any payment made for goods or services or Cash Withdrawals obtained
by use of the Card.
"Unauthorised
Transaction"
Any Transaction made by someone who used the Card without your
permission.
"We", "Us", "Amex"
Amex (Saudi Arabia) Limited or its successors.
"You", "Your"
The Account holder, the debtor under this Agreement.
2. ACCEPTANCE
a. Before you sign or use the enclosed Card, please read this Agreement carefully.
b. If you sign or use the Card, you are deemed to agree to the terms and conditions
contained in this Agreement in all respects.
3. USING THE CARD
a. You must sign the Card in ink as soon as you receive it (and ensure that the Additional
Cardmember signs his/her Card); keep any PIN secret and separate from your Card; stay
within your Credit Limit (the amount of which will be determined by us from time to time
and shown on your statement); use the Card only within the period embossed on it; and
not use the Card after it has been damaged, withdrawn or cancelled.
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b. Although you use the Card, it will, at all times, remain our property. This means you must
give the Card back if we ask you to do so. A Service Establishment or any other person
acting for or on our behalf can also keep the Card on our behalf.
c. You must not allow anyone other than yourself or any Additional Cardmember to use the
Card(s) or the PIN(s).
d. If you use the Card to buy insurance, you empower us to pay the premiums on your
behalf and you undertake to repay us accordingly. You must tell the insurer in writing if
you wish to stop making payments and advise us with a copy of the same. We shall not
be responsible for cancellation of any policy resulting from our inability to pay a premium
because of insufficient credit in your Account.
e. No Service Establishment owner who is a Cardmember/Additional Cardmember is
allowed to use his/her Cards in his/her own Service Establishment. You are not allowed
to utilize the Card to fund any part of, or to meet the working capital requirements of your
business.
f. You will be liable for all charges incurred on the Card issued to you and on any Additional
Cards issued on your Account. The Additional Cardmember is jointly and severally liable
with you for all charges incurred on the Additional Card issued to him/her.
g. You will pay Amex (Saudi Arabia) Ltd. all amounts debited to your Account regardless of
whether a sale or cash advance voucher is signed by you or additional cardmember.
h. Amex (Saudi Arabia) Ltd. shall be under no liability whatsoever in respect of any loss or
damage arising directly or indirectly out of decline of a charge by a Service
Establishment.
4. THE ACCOUNT
a. We will operate the Account for you, and charge to it the amounts of all Transactions
made on your Card and any Additional Card. You will pay us all amounts charged to your
Account by you and any Additional Cardmember whether or not a record of the
Transaction has been signed at the Service Establishment.
b. When we give a Service Establishment permission to charge your Account, we assume
the Transaction will take place and we will reduce accordingly the amount of credit
available to you.
c. We may refuse any request for authorization of any Transaction including Cash
Withdrawals without giving any notice to you. We accept no responsibility for any loss
either direct or consequential that you may suffer, but we will re-credit amounts
improperly charged to your Account.
d. If Amex (Saudi Arabia) Ltd. becomes aware of suspicious fraudulent transactions or
requests being made or attempted on the Card, it reserves the right to block the available
limit in the Card Account. This measure is being taken to safeguard your interest as well
as that of Amex (Saudi Arabia) Ltd. and Amex (Saudi Arabia) Ltd. will not be held liable
for the same.
5. FOREIGN CHARGES
All Transactions including Cash Withdrawals, incurred in currencies other than the billing currency
of the Account ("Non-Billing Currency"), will be converted into the Account's billing currency
("Billing Currency"). Unless the applicable laws require a specific conversion rate, the American
Express Global Network, will use conversion rates based on interbank rates, which they select
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from customary industry sources on the business day prior to the date of processing the
transaction.
A nominal conversion fee of 2.5% on the converted amount will be added by Amex (Saudi Arabia)
Ltd. ("Amex"), the Issuer of your Card. The conversion will be made on the date of processing the
transaction, which may not be the same date when the transaction was made since this depends
on the time when the transaction was submitted to American Express Global Network. The
conversion rates may also vary accordingly. At the time of conversion, all transactions, which are
incurred in currencies other than US Dollars, will be converted to US Dollars before being
converted to the Billing Currency. Amounts converted by independent third parties are billed as
converted by them.
6. COMMISSIONS AND FEES
a. An annual fee for managing the Account of SAR 200 per year will be payable by you.
Additional Cards are free. We specifically reserve the right to vary, at our discretion, the
circumstances in which fees are charged and the amount of such fee(s) by giving you 45
days notice prior to making any such change.
b. If you pay us with a cheque and your bank does not honour the cheque, we will charge
you SAR 150, plus any incurred costs. You will be responsible for all legal consequences,
civil or criminal, of issuing a cheque that is dishonoured. You are also responsible for any
costs, which we have to pay in recovering any overdue payment from you. This includes
costs that we may incur in using a third party, such as a solicitor and any costs that they
themselves incur in trying to recover the debt on our behalf. If you fail to pay the minimum
amount before the payment due date, we may debit your Account with any costs that we
incur. If your Account is set up on Direct Debit through your bank and your bank returns a
direct debit payment due to insufficient funds in your bank account to cover the amount
due, we will charge you SAR 150, plus any incurred costs.
c. If you have a credit balance in your Account, and you require Amex (Saudi Arabia) Ltd. to
refund this credit balance, then we will charge a fee of SAR 100.
d. We will apply a commission on all balances that result from all purchase Transactions at
a rate of 2.50% per month, on a daily basis and from all cash Transactions at a rate of
2.75% per month, on a daily basis. A Commission will be charged on the amount you
owe in respect of the Transactions from the date you make them until we receive
payment.
e. If the payment of the whole of the statement closing balance on an Account is received
by Amex (Saudi Arabia) Ltd. on or before the payment due date, no commission will be
payable. If you wish to utilize the credit facility and pay Amex (Saudi Arabia) Ltd. an
amount less than the statement closing balance, the balance of amount outstanding from
the date of the transaction will attract a commission. All transactions will attract a
commission from the date of transaction at the prevailing rate once the Account uses the
credit facility. This charge will be debited on the last day of the billing date and will be
applied on daily outstanding balances.
f. If the minimum amount due is not paid by the payment due date, a late payment fee of
SAR 150 will be debited to the Account on the last day of the billing cycle. Amex (Saudi
Arabia) Ltd. also reserves the right to levy penal finance charges at 2.75% per month, in
case minimum dues are not paid before the payment due date.
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g. We may change the above standard rates of commission at any time at our discretion
after providing at least 45 days advance notice to you. We may, at any time, reduce the
commission on any Transaction, or any particular class of Transactions, incurred during a
promotional period. We will give you at least 45 days advance notice of such rate
reductions and the length of the promotional period. If such a reduction takes place, we
will apply a commission on the outstanding amount in respect of any relevant
Promotional Transaction at the reduced rate during the promotional period and then at
the normal rate when the promotional period has come to an end.
h. All cash advances attract a transaction fee at the prevailing rate. A charge of 3.5% or
SAR 40 whichever is higher will be charged and billed to your Account along with the
amount you have withdrawn. The fee will be debited to the Account at the time of posting
of the cash advance.
i. If the balance on your Account exceeds your Credit Limit at any time, we will charge you
an over limit fee of SAR 100.
j. We will charge you a Transaction Fee for Emergency Cash on Card. A charge of 5% or
SAR 56.25 whichever is higher will be charged and billed to your Account along with the
amount you have withdrawn.
k. A processing fee of SAR 56.25 will be charged for any overseas payment made to the
card account through designated overseas American Express offices.
l. We reserve the right, at our discretion, to debit your Account with a fee of SAR 150 to
cover our investigation costs for the disputed charge. However, should our investigation
reveal that the charge does not relate to you in any manner, we will credit your Account
for the disputed charge and absorb the investigation fee.
m. Upon your request, we will provide you with reprints of your monthly statement of account
(when available). There will be no charge for the first three months requested. Any
requests for additional months will be charged at a fee of SAR 40 per statement.
n. A processing fee of SAR 100 will be charged if the Card needs to be replaced due to an
incorrect name provided in the application form.
7. CREDIT LIMIT
a.
Amex (Saudi Arabia) Ltd. will assign a limit to the Account along with a cash limit for all
Accounts (as decided by Amex (Saudi Arabia) Ltd. from time to time), which must be
strictly observed by you and which may be varied by Amex (Saudi Arabia) Ltd. from time
to time. In the case of credit Cards you will be notified your revised credit limit in your
next statement. Amex (Saudi Arabia) Ltd. may at its sole discretion (but shall not be
obliged to) increase your credit limit. Amex (Saudi Arabia) Ltd. may also at its sole
discretion, reduce or cancel the credit limit. In case you reject an increase in credit limit,
Amex (Saudi Arabia) Ltd. shall, upon receipt of a request from you, revert to the original
credit limit.
b
Cash withdrawal limits will be determined at the sole discretion of Amex (Saudi Arabia)
Ltd. and may vary from 0% of your credit limit to a maximum of 50% of your credit limit.
Cash withdrawal limits are determined based on a variety of factors including your credit
worthiness, your past spending and payment history and your record at the credit bureau.
Cash withdrawal limits (if any) will be at the sole discretion of Amex (Saudi Arabia) Ltd.
and subject to change from time to time without prior notification.
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8. STATEMENTS & PAYMENTS
a. We will regularly issue and put at your disposal a monthly statement so that you know
how much you owe us on your Account. Each statement will show the total and minimum
amount that you must pay to us. The minimum amount you need to pay us will be 5% or
SAR 50 whichever is higher. You can also pay anything up to the total amount you owe, if
you wish.
b. We will only credit the amount you owe to your Account when we receive good funds on
your payment - not when you send it. We will apply your payments in the following order:
i.
ii.
iii.
iv.
v.
vi.
c.
d.
e.
f.
g.
h.
i.
We will repay any fees and commission posted to your previous Statements of
Account.
We will repay any Debit Cash transactions posted to your previous Statements of
Account.
We will repay any Debit Non-Cash transactions posted to your previous
Statements of Account.
We will repay any fees and commission posted to your current Statement of
Account.
We will repay any Debit Cash transactions posted to your current Statement of
Account.
We will repay any Debit Non-Cash transactions posted to your current Statement
of Account.
Commission for a statement period will be debited monthly to your Account as at the last
day of each statement period. It will be calculated for each day of the relevant statement
period and will be shown on your Statement of Account for that statement period.
We will only credit the amount you owe to your Account when we receive your payment not when you send it.
If you are the sole proprietor of a Service Establishment (according to our records), you
hereby authorize us to stop payments made payable to you or to your Service
Establishment should your Card Account become overdue for any amount.
Cheques and demand drafts forwarded to Amex (Saudi Arabia) Ltd. for clearance of dues
must be drawn on and be payable in Saudi Arabia. Payments will be credited to the
Account only on receipt of good funds.
All fees and charges incurred by Amex (Saudi Arabia) Ltd. in relation to returned cheques
would be charged to you.
You can pay your dues by cheques, drawn payable to Amex (Saudi Arabia) Ltd. and
account payee crossed. You will issue separate cheques for separate Amex (Saudi
Arabia) Ltd. primary Card Accounts held by you.
You will be responsible for any direct debit instructions issued by you on your Card in
relation to other service providers. Disputes, if any, in relation to such instructions must
be resolved directly between you and such services providers. Notwithstanding the
existence of such disputes, you must pay timely your invoice to Amex (Saudi Arabia) Ltd.
You will also be responsible to advise your service providers directly of any change in
your Card number for payment mandates / direct debits you have authorized on your
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Card, irrespective of the change being an outcome of instructions / action emanated from
you or from Amex (Saudi Arabia) Ltd. Amex (Saudi Arabia) Ltd. accepts no responsibility
for any disputes between you and other service providers.
9.
CashBack
For every Saudi Riyal that you spend on the Card you will earn 1% CashBack, which will
be credited to your account at the end of each 12-month period. Your Card will be
automatically enrolled in the program when the application is approved. CashBack from
spend on any of your Additional Cards will be automatically credited to your Basic Card
CashBack Account. On the anniversary date of your account, you will receive a credit on
your statement reflecting the CashBack amount that you have collected for the year. The
CashBack section on the statement will also reflect the amount paid as CashBack.
The CashBack is only paid on the anniversary date and if the Card is cancelled before
then, no CashBack will be paid. If your account is overdue, you will not accumulate
CashBack on any transactions until the time a payment is made. As long as your Card
account is in good standing and the minimum payments have been made, CashBack will
continue to accumulate in your account.
10. QUERIES
a. If you have any queries about the charges appearing on the statement, you must contact
us immediately and in any event, not later than one month after the statement date. If you
fail to notify us within that period, we shall be entitled to assume that you agree to the
correctness of the statement. The address to write to is Amex (Saudi Arabia) Limited,
P.O. Box 6624, Riyadh 11452, Saudi Arabia, Tel: Toll Free 800 124 2229 or (966 1) 474
9035.
b. We are not responsible for goods or services charged to the Card. Once you have
charged goods or services to your Card, you cannot later cancel that charge unless with
the consent of the Service Establishment or the seller or the provider of the service as the
case may be. In all circumstances, you must pay us the minimum amount shown on your
monthly statement. Any dispute should be settled directly with the Service Establishment.
c. Whilst we do not guarantee the resolution of any queries relating to charges, it is most
unlikely that we will be able to resolve any queries relating to charges of more than 90
days.
d. We will, at our discretion, raise an inquiry on your behalf with the Establishment and
obtain the relevant supporting documentation for the disputed charge(s).
11. ENDING THIS AGREEMENT
a. You can end this Agreement at any time by returning to us all Cards we have sent you to
use in connection with the Account with a letter asking us to end this Agreement. We will
only end this Agreement when we receive all Cards cut in half and you have paid off all
the amounts that you owe. You can cancel a Card used by an Additional Cardmember,
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by telling us in writing. However, you will still be responsible for all Transactions the
Additional Cardmember makes until the Card is returned to us cut in half.
b. We can end this Agreement at any time by giving immediate notice. Alternatively, we can
stop you from using the Card. If we end this Agreement, you must pay all money you owe
on the Account (including Transactions and Cash Withdrawals not yet debited to your
Account).
c. Unless paragraph 14 (b) applies, you will still be responsible for all Transactions or
Unauthorized Transactions that take place in relation to the Account.
12. RENEWING THE CARD
a. You authorize us to renew Cards before they expire.
b. Unless this Agreement has ended, we may from time to time send you renewal or
replacement Cards.
12. DEATH OR BANKRUPTCY
a. In the unfortunate event of your death, we shall have the right to ask your legal heirs to
settle all amounts due on the Account immediately.
b. In case of an unfortunate event of your bankruptcy, all amounts due on the Account shall
become immediately payable to us.
c. If you lose or give up your residency status in the Kingdom of Saudi Arabia or leave the
Kingdom of Saudi Arabia permanently, we have the right to cancel your Card.
14. PROTECTING THE CARD AND PIN
a. You must take proper care to make sure that the Card is safe and stop anyone else using
it. You must keep your PIN secret. You must not keep a note of your PIN on the Card
itself or anything you usually keep with the Card. You must not write down the PIN
without disguising it.
b. If you lose the Card, it is damaged, stolen or someone else finds out the PIN, you must
tell us immediately. If you do this by telephone, you must confirm in writing within 7 days.
The address to write to is Amex (Saudi Arabia) Limited, P.O. Box 6624, Riyadh 11452,
Saudi Arabia, Tel: Toll Free 800 124 2229 or (966 1) 474 9035. As long as you do this
and we receive your written notice, you will not be responsible for losses, which result
from someone else using the Card. However, you will be responsible for all Transactions
(including Cash Withdrawals) made using the Card by anyone who obtained possession
of it with your or the Additional Cardmember's permission. Should you subsequently
recover the lost / stolen Card, the recovered Card must not be used. The recovered Card
must be destroyed by cutting it into several pieces through the magnetic strip.
c. You hereby indemnify Amex (Saudi Arabia) Ltd. fully against any liability (civil or
criminal), loss, cost, expenses or damages that may arise due to loss or misuse of the
Card, in the event that (a) it is lost and such loss is not reported to Amex (Saudi Arabia)
Ltd. or (b) it is lost and misused before Amex (Saudi Arabia) Ltd. is informed. Your
maximum liability in this case will be the available credit limit or the total value of
unauthorised transactions whichever is lower. If you have a credit balance in your
Account then the ‘available credit limit’ will include both the credit limit and the credit
balance outstanding in the Account.
d. Provided you notify us immediately upon discovery of any fraudulent transactions from
using your Card on Internet Websites, displaying the "Online Fraud Guarantee" sign and
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you have complied with your Card conditions, you will not be held liable for any charges.
Immediately means as soon as you are aware but not later than 30 days from the receipt
of the monthly statement.
e. Provided you have in all respects complied with the terms and conditions, a replacement
Card may be issued at the sole discretion of Amex (Saudi Arabia) Ltd. at the applicable
fee.
f. You must also notify us immediately if you change your address.
15. LIABILITY AND REFUNDS
a. We are not liable if a Service Establishment does not accept the Card. If a Service
Establishment agrees to give you a refund, we will credit your Account only if we receive
a proper refund confirmation from the Service Establishment.
b. Unless sub-paragraphs (c) and (d) below apply, we will be responsible for all expenditure
on your Account if the Card is misused before you receive it or if a fault has occurred in
the machines or systems used with the Card and this causes you to suffer direct loss
unless you should have known about the fault because there was a message or notice on
the display of the machine in question. However, you will be liable for all charges if the
Card is lost and misused before Amex (Saudi Arabia) Ltd is informed.
c. We will only pay the amounts wrongly charged to your Account and any commission on
those amounts. In all circumstances, you will be responsible for any losses resulting from
you or the Additional Cardmember committing a fraud.
d. In any circumstances outlined in this paragraph 15, you agree to cooperate in any
investigation we may wish to make. You must do your best to obtain the agreement of the
Additional Cardmember to cooperate in any such investigations.
e. American Express is not responsible for any i) non-acceptance of the Card or the way the
Card is accepted or declined, ii) failure to carry out our obligations under this Agreement
arising from a systems failure, date or other data processing failure, industrial dispute or
other event outside our reasonable control, iii) indirect, special or consequential damages
arising under this Agreement.
f. You and any Additional Cardmember are jointly and severally liable for all transactions on
the Card and any Additional Cards.
16. CHANGE OF AGREEMENT
a. These Terms & Conditions shall be unilaterally and periodically reviewed, updated and
amended by Amex (Saudi Arabia) Limited, and 45 days notice will be provided to you
prior to entering into full effect. The up-to-date version displayed over this web page shall
contain any such amendment(s), and shall therefore be deemed valid, entering into full
effect, automatically after the notice period, replacing and superseding the previous
provision(s) whether contained in the Terms & Conditions in written form accompanying
the Card (s) when delivered to you or previously displayed over this web page. The use
or possession of the Card(s) after the notice period shall be deemed as your formal and
absolute approval to such Terms & Conditions.
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b. We may assign our rights, benefits or obligations under this Agreement at any time. You
may not assign your rights, benefits or obligations under this Agreement.
c. If you do not accept such changes, you may terminate this Agreement (without incurring
additional fees related to revised terms and conditions) within 10 days after the receipt of
notice by cutting the Card in half and advising us in writing. You will be liable for all
charges made and fees up to the date when we receive the notice of termination,
17. PRIVACY AND APPLICABLE LAW
a. You agree to comply with all applicable exchange control regulations, which may be
issued from time to time.
b. The Agreement and, unless it is otherwise agreed between us, all matters arising out of
the issue or use of the Card are subject to the laws of the Kingdom of Saudi Arabia,
including but not limited to, the Committee for Settlement of Banking Disputes of the
Saudi Arabian Monetary Agency (SAMA), and the court of jurisdiction shall be at our sole
option. You agree, however, that we may carry on collection procedures in any other
jurisdiction in which you may be resident or domiciled from time to time.
c. As per SAMA guidelines, we provide credit information relating to you to The Saudi Credit
Bureau (SIMAH) on a monthly basis. The information provided reflects the status as at
the previous month-end and includes information regarding whether the Account is
regular or delinquent. In the event an Account is delinquent as at the date of such
reporting and the Account is subsequently regularized, the status of the Account will only
be updated prospectively, at the time of the next monthly reporting. As per SIMAH, all
changes in your status are updated within a maximum of 30 days. To avoid any adverse
credit history with SIMAH, you should ensure that you make timely payment of the
amount due on the Account.
d. It being not reasonably possible for us to maintain original copies of all vouchers and
other papers signed by you in connection with the use of the Card, it is our policy to place
the same on microfilm. Accordingly, you hereby agree that such microfilm and/or copies
thereof will be acceptable to you as evidence in any court of law to prove the transactions
undertaken by you and that you will not object to the use thereof as evidence. Moreover,
you agree that such microfilm or copy thereof may be used in any procedure for
verification of your signature.
e. We will:
i.
ii.
Disclose information about you, your Account and charges on your Account (which
may include details of goods and/or services purchased) to companies within the
American Express group of companies worldwide (including other organizations who
issue the Card), to any other party whose name or logo appears on the Card issued
to you, to any party authorized by you, to our processors and suppliers and to
organizations who accept the Card in payment for goods and/or services purchased
by you and obtain such information from those parties, in order to administer and
service your Account, process and collect charges on it and manage any benefits or
insurance programmes in which you are enrolled. Where you purchase goods and/or
services on behalf of a third party, you confirm that you have obtained the consent of
the third party to the disclosure of his or her information to American Express group
of companies worldwide for these purposes;
Use information about you and information about how you use your Account (unless
you ask us not to) to develop lists for use within the American Express group of
companies worldwide (including other organizations who issue the Card) and other
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iii.
iv.
v.
vi.
vii.
viii.
f.
select companies in order that we or these companies may develop or make offers to
you (by mail or telephone) of products and services in which you may be interested.
The information used to develop these lists may be obtained from the Application,
from information on where you use and what charges are on your Card, from surveys
and research (which may involve contacting you by mail or telephone) and from
information obtained from other external sources such as merchants or marketing
organizations;
Exchange information about you and your Account with credit reference agencies
which may be shared with other organizations in assessing applications from you and
members of your household for credit or other facilities and for preventing fraud and
tracking debtors;
Carry out credit checks whilst any money is owed by you on your Account (including
contacting your bank, financial institution or approved referee) and disclose
information about you and your Account to collection agencies and lawyers for the
purpose of collecting debts on your Account;
Carry out further credit checks and analyse information about you and charges on
your Account, to assist in managing your Account, authorizing charges on it and to
prevent fraud;
Monitor and/or record your telephone calls to us, or ours to you, either ourselves or
by reputable organizations selected by us, to ensure consistent servicing levels
(including staff training) and Account operation;
Undertake all of the above within and outside Saudi Arabia.
Undertake all of the above in respect of any Additional Cardmember on your
Account. Where you have approved the issue of an Additional Card, you confirm that
you have obtained the consent of the Additional Cardmember to disclose his or her
information to American Express group of companies worldwide and process it for
the above purposes.
If you believe that any information we hold about you is incorrect or incomplete, you
should write without delay to Amex (Saudi Arabia) Limited, P.O. Box 6624, Riyadh
11452, Saudi Arabia. Any information, which is found to be incorrect or incomplete, will
be corrected promptly.
18. INFORMATION
a. You will promptly notify Amex (Saudi Arabia) Ltd. in writing of any changes in your
employment and/or office and/or residential address and telephone numbers. In case you
fail to notify Amex (Saudi Arabia) Ltd. of any change in your telephone number(s) or the
address (es) and this result in Amex (Saudi Arabia) Ltd’s inability to confirm transactions
that appear suspicious, you shall remain liable for any misuse that takes place as a
consequence of this inability.
b. When requested by Amex (Saudi Arabia) Ltd., you shall provide information, records or
certificates related to his or her employment, income, residency status, solvency or
defaults on other credit obligations, that Amex (Saudi Arabia) Ltd. deems necessary. You
also authorize Amex (Saudi Arabia) Ltd. to verify the information furnished by whatever
means or from whichever source Amex (Saudi Arabia) Ltd. deems necessary. If the data
is not provided or if incorrect data is provided, Amex (Saudi Arabia) Ltd., at its discretion,
may refuse renewal of the Card or cancel the Card forthwith and demand payment of all
outstanding on the Account.
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c.
If the minimum payment due payable does not get paid by the payment due date, your
name may be liable for inclusion in databases to be shared with other lenders and credit
bureaus. The right to do so lies with Amex (Saudi Arabia) Ltd.
d. Amex (Saudi Arabia) Ltd. reserves the right to disclose Cardmember information to any
court of competent jurisdiction, quasi judicial authorities, law enforcement agencies and
any other wing of government.
e. The existence of this Account and details thereof (including details of Card transactions
and any defaults committed), will be recorded with credit bureau agencies and such
information (including institutions and other credit grantors) for the purposes assessing
further applications for credit by you and/or members of your household, and for
occasional debt tracing and fraud prevention. You accordingly authorize Amex (Saudi
Arabia) Ltd. to share information relating to your Account, including information relating to
any Additional Cardmember(s) with such agencies and institutions.
f. Any notice given by Amex (Saudi Arabia) Ltd. hereunder will be deemed to have been
received by you within seven days of posting to your address last notified in writing to
Amex (Saudi Arabia) Ltd.
19. GENERAL
a. In addition to any general right to set-off or other right conferred by law or under any
other agreement, Amex (Saudi Arabia) Ltd. may, without notice, combine or consolidate
the outstanding balance on the Account with any other Account(s) which you maintain
with Amex (Saudi Arabia) Ltd. and / or its affiliated companies and set-off or transfer any
money outstanding to the credit of such other Account(s), in or towards the satisfaction of
your liability to Amex (Saudi Arabia) Ltd. under this Agreement.
b. You acknowledge that Amex (Saudi Arabia) Ltd. is not responsible for any of the services
provided by third parties.
c. Amex (Saudi Arabia) Ltd. may accepts/act on verbal instructions or instructions by fax or
email from you and/or your nominated user using our 24 X 7 Customer Service centre
with respect to the operations and / or termination of the Account. Amex (Saudi Arabia)
Ltd. shall not be liable for any loss or damage suffered by you in the event that Amex
(Saudi Arabia) Ltd. (in Amex (Saudi Arabia) Ltd’s absolute discretion) acts in good faith
on such instructions.
d. Amex (Saudi Arabia) Ltd. is authorized to act on any instructions, which Amex (Saudi
Arabia) Ltd. at its sole discretion understands having emanated from you by the use of
your PIN and other passwords, and is not expected to verify the identity of the persons
giving these instructions purportedly in your name. You are expected to safeguard you
PIN and other passwords at all times and shall be liable for all transactions / instructions
processed by the use or purported use of the PIN / password.
e. Amex (Saudi Arabia) Ltd. and its affiliated companies are required to act in accordance
with the laws, regulations and requests of public and regulatory authorities operating in
various jurisdictions which relate to, amongst other things, the prevention of money
laundering, terrorist financing and the provision of financial and other services to any
persons or entities which may be subject to sanctions. Amex (Saudi Arabia) Ltd. may
take, and may instruct or be instructed by an affiliate to take, any action which it or such
other member, in its sole and absolute discretion, considers appropriate to take in
accordance with all such laws, regulations and requests. Such action may include but is
not limited to the interception and investigation of any payment messages and other
information or communications sent to or by the Account holder’s behalf via the systems
of Amex (Saudi Arabia) Ltd. or its affiliated companies; and making further enquiries as to
whether a name which might refer to a sanctioned person or entity actually refers to that
person or entity. Neither Amex (Saudi Arabia) Ltd. nor any affiliate will be liable for loss
(whether direct or consequential and including, without limitation, loss of profit or interest)
or damage suffered by any party arising out of any delay or failure by Amex (Saudi
30/06/2012
Arabia) Ltd. or affiliate in processing any such payment messages or other information or
communications, or in performing any of its duties or other obligations in connection with
any Accounts or the provision of any services to the Account holder, caused in whole or
in part by any steps which Amex (Saudi Arabia) Ltd. Or such affiliate, in its sole and
absolute discretion, considers appropriate to take in accordance with all such laws,
regulations and request. In certain circumstances, the action, which Amex (Saudi Arabia)
Ltd. may take, may prevent or cause a delay in the processing of certain information.
Therefore, neither Amex (Saudi Arabia) Ltd. nor any affiliate warrants that any
information on Amex (Saudi Arabia) Ltd’s systems relating to any payment messages or
other information and communications which are the subject of any action taken pursuant
to this clause is accurate, current or up-to-date at the time it is accessed, whilst such
action is being taken.
20. TERMINATION
a. Amex (Saudi Arabia) Ltd. in its absolute discretion may cancel your Card / additional
Card(s) forthwith if, in Amex (Saudi Arabia) Ltd’s opinion, you are in breach of the
Cardmember agreement and/or if verbal/written instructions have emanated from you or
your nominated user to cancel your Card / additional Card(s).
b. Amex (Saudi Arabia) Ltd. will become entitled to recover the outstanding dues together
with all expenses, legal fees, finance charges and the interest from your estate on your
death, without prejudice to its rights to continue to charge the finance charges and other
charges at prevailing rates till the dues are settled.
c. Closure of the Card shall lead to immediate withdrawal of all facilities provided through
use of the Card and/or the Card number.
30/06/2012
Initial Disclosure Statement
Please read the following important information carefully prior to using the card(s). The use of the
Card(s) shall be deemed as your formal and absolute approval to Initial Disclosure Statement and
Terms & Conditions.. If you have any questions, please call our customer service toll-free 800
124 2229 or (+966 11) 474 9035./ 474 8023
(a)
Applicable fees
Types of Fees
Commission (Purchases) *
Commission (Cash) *
Annual subscription fee
Additional Card fee (optional)
Cash withdrawal fee
Late payment fee
2.50%
2.75%
SAR 200
free
3.5% of amount withdrawn or SAR 40
whichever is higher
SAR 150 for each month of delay in
payment
SAR 100
2.50%
SAR 150
SAR 40 per statement
Over limit fee
Currency conversion fee
Cheque returned fee
Statement request fee (more than three
months)
Refund of credit balance
SAR 100
Direct debit rejection fee
SAR 150
Dispute handling fee (for invalid disputes SAR 150
only)
Overseas payment fee
SAR 56.25
Emergency cash on card fee
5% or SAR 56.25 whichever is higher
Card replacement for incorrect embossing SAR 100
name provided by the cardmember
* Commission (Cash) / Commission (Purchases) are payable only if revolve Card bill is not
paid in full on or before the payment due date. Annual Percentage Rate (APR) for
purchases is 30% and for cash withdrawals 33%.
(b)
(c)
(d)
This account will be billed in Saudi Riyals. The annual subscription fee of SAR 200 will be
included on your first statement of account. Additional Blue Cards are free.
We will apply a commission on all balances that result from all Purchases transactions at
a rate of 2.50% per month, on a daily basis and from all cash Transactions at a rate of
2.75% per month, on a daily basis. A commission will be charged on the amount you owe
in respect of the transactions from the date you make them until we receive payment. If
the payment of the whole of the statement closing balance on a credit Card is received by
Amex (Saudi Arabia) Ltd. on or before the payment due date, no commission will be
payable. If you wish to utilize the credit facility and pay Amex (Saudi Arabia) Ltd. an
amount less than the statement closing balance, the balance of amount outstanding from
the date of the transaction will attract a commission. All transactions will attract a
commission from the date of transaction at the prevailing rate once the account uses the
credit facility. This charge will be debited on the last day of the billing date and will be
applied on daily outstanding balances.
All cash advances attract a transaction fee at the prevailing rate. A charge of 3.50% or
SAR 40 whichever is higher will be charged and billed to your Account along with the
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(e)
(f)
amount you have withdrawn. The fee will be debited to the Card Account at the time of
posting of the cash advance.
A grace period of 25 days will be granted to settle the amount, and the payment due date
will be indicated on your statement.
All Transactions including Cash Withdrawals, incurred in currencies other than the billing
currency of the Card account ("Non-Billing Currency"), will be converted into the Card
Accounts billing currency ("Billing Currency"). Unless the applicable laws require a
specific conversion rate, the American Express Global Network, will use conversion rates
based on interbank rates, which they select from customary industry sources on the
business day prior to the date of processing the transaction. A nominal conversion fee of
2.5% on the converted amount will be added by Amex (Saudi Arabia) Ltd. ("Amex"), the
Issuer of your Card. The conversion will be made on the date of processing the
transaction, which may not be the same date when the transaction was made since this
depends on the time when the transaction was submitted to American Express Global
Network. The conversion rates may also vary accordingly. At the time of conversion, all
transactions, which are incurred in currencies other than US Dollars, will be converted to
US Dollars before being converted to the Billing Currency. Amounts converted by
independent third parties are billed as converted by them.
An illustrative example is given below.
Transaction value (Non-billing currency)
American Express Global Network exchange rate
US$ equivalent
Currency conversion fee (@ 2.5%)
Total transaction value in US$ (If US$ is the Billing Currency)
US$ to SAR conversion rate
Total transaction value in SAR (If SAR is the Billing Currency)
(g)
(h)
(i.)
(i)
(k)
Euro100
1 Euro = 1.3572 US$
US$135.72
US$3.39
US$139.11
3.75
SAR521.67
We provide credit information relating to our Cardmembers to The Saudi Credit Bureau
(SIMAH) on a monthly basis. The information provided reflects the status as at the
previous month-end and includes information regarding whether the Card account is
regular or delinquent. To avoid any adverse credit history with SIMAH, Cardholders
should ensure that they make timely payment of the amount due on the Card account.
Detailed conditions governing the use of the American Express Card are included in the
Terms
&
Conditions,
which
is
available
at
http://www.americanexpress.com.sa/Terms_conditions.AxCMS. The signature of, or the
use of the Card(s) shall be deemed as formal approval of the said Terms & Conditions. If
you do not accept the terms and conditions, you can terminate this agreement (without
incurring fees) by calling our customer service hotlines within 10 days after receipt of the
card(s).
The Terms & Conditions shall be unilaterally and periodically reviewed, updated and
amended by Amex (Saudi Arabia) Limited, and 45 days notice will be provided to you
prior to entering into full effect. The up-to-date version displayed over this web page shall
contain any such amendment(s), and shall therefore be deemed valid, entering into full
effect, automatically after the notice period replacing and superseding the previous
provision(s) whether contained in the Terms & Conditions in written form accompanying
the Card(s) when delivered to you or previously displayed over this web page. The use or
possession of the Card(s) after the notice period shall be deemed as your formal and
absolute approval to such Terms & Conditions.
Upon its approval by Amex (Saudi Arabia) Limited, this application and all supporting
documents shall constitute integral parts of the Terms & Conditions. I agree that
American Express have the right to keep all the documents supplied with this application.
I fully understand and agree that a regular monthly statement of account will be sent via
e-mail to my personal email address provided in this application form. If no email address
is provided, a printed statement will be sent to either personal or business address.
Each statement will show the minimum amount you need to pay us, which will be 5% or
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SAR 50, whichever is higher. You can also pay anything up to the full amount you owe, if
you wish.
30/06/2012